Certificate Authority Market To Reach $401.4 Million By 2030

Certificate Authority Market Growth & Trends

The global certificate authority market size is anticipated to reach USD 401.4 million by 2030 and is projected to grow at a CAGR of 13.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. Advancements in technologies such as cloud computing, mobile computing, and blockchain have created new opportunities and challenges for securing digital communications. Certificate authorities (CAs) are adapting to these changes by offering innovative solutions tailored to the needs of modern IT infrastructures.

The growing demand for e-commerce propels the need for SSL/TLS certificates crucial in securing online transactions. Enhanced Validation (EV) certificates, with severe identity verification processes, are favored by e-commerce platforms seeking to instill trust in customers. The e-commerce landscape, including e-commerce and omni-channel retailing, boosts innovation toward multi-domain and mobile-friendly certificate solutions. According to the FIS Global Payment Report 2023, e-commerce witnessed a growth of 10% YoY from 2021 to 2022, and it is anticipated to grow at the fastest CAGR of 9% from 2022 to 2026. With the increasing use of digital payments for e-commerce, companies are adopting certifications to ensure secure transactions and protect their customers' personal data.

Governments worldwide introduce regulations and standards to secure digital communications and protect user privacy. Initiatives such as the European Union's General Data Protection Regulation (GDPR), California Consumer Privacy Act (CCPA), and various industry-specific regulations (e.g., HIPAA, PCI DSS) impose strict requirements for data protection and secure communication. CAs play a crucial role in helping organizations comply with these regulations by providing SSL/TLS certificates and other cryptographic solutions for encrypting data in transit and authenticating websites and online services.

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Certificate Authority Market Report Highlights

• Based on component, the certificate type segment led the market with the largest revenue share of 62.0% in 2023, due to the increasing adoption of cloud computing services and hybrid IT infrastructures

• Based on enterprise size, the SMEs segment is anticipated to witness at the fastest CAGR during the forecast period. SMEs increasingly deploy IoT devices for various purposes, such as inventory management, asset tracking, and environmental monitoring, which lead to secure device authentication

• Based on certificate validation type, the domain validation segment led the market with the largest revenue share of 46.0% in 2023. Advancements in technology, such as automation and improved validation processes, have simplified the issuance and management of domain validation certificates, making them more accessible to organizations

• Based on vertical, the healthcare segment is anticipated to witness at the fastest CAGR during the forecast period. Healthcare organizations face increasing cybersecurity threats due to adopting electronic health records and telemedicine platforms

• North America accounted for the largest revenue share of 33.7% in 2023 and is projected to grow at a significant CAGR over the forecast period. The region has witnessed a rise in data breaches and cyberattacks, leading businesses and government agencies to prioritize cybersecurity

• In September 2023, Sectigo Limited., a provider of digital certificates and automated Certificate Lifecycle Management (CLM), announced a partnership with an Italian trust service provider, Telecom Italia Trust Technologies, and the Certification Authority (TIM Group) to offer identity management services to Italian organizations. This partnership aims to enhance the efficiency and effectiveness of security resources for companies, providing immediate benefits

Certificate Authority Market Segmentation

Grand View Research has segmented the global certificate authority market report based on component, enterprise size, certificate validation type, vertical, and region:

Certificate Authority Component Outlook (Revenue, USD Million, 2018 - 2030)

• Certificate Type

• Services

Certificate Authority Enterprise Size Outlook (Revenue, USD Million, 2018 - 2030)

• SMEs

• Large Enterprises

Certificate Authority Certificate Validation Type Outlook (Revenue, USD Million, 2018 - 2030)

• Domain Validation

• Organization Validation

• Extended Validation

Certificate Authority Vertical Outlook (Revenue, USD Million, 2018 - 2030)

• BFSI

• Retail and E-commerce

• Government and Defense

• Healthcare

• IT and Telecom

• Travel and Hospitality

• Education

• Others

Certificate Authority Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • Italy

  • France

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • UAE

  • Saudi Arabia

  • South Africa

List of Key Players in the Certificate Authority Market

• ACTALIS S.p.A.

• Asseco Data Systems S.A.

• DigiCert, Inc

• Entrust Corporation

• GlobalSign

• GoDaddy Operating Company, LLC

• IdenTrust, Inc

• Network Solutions, LLC

• Newfold Digital Inc.

• Sectigo Limited

• SSL.com

• WISeKey International Holding Ltd